Menu Close
  • Accounting in Tally ERP 9
    •

Accounting in
Tally ERP 9

Best GST Training

How to create GST tax ledgers in Tally

  • From Gateway of Tally, go to Account Information.
  • Select ledgers
  • Select Create in Single Ledger.
    You will need to create the CGST Ledger in Tally. The name will be Input SGST as it is the input tax we pay when we buy goods or services that attract GST
  • It will be under Duties and Taxes.
  • Now, in type of Duties/ Taxes, select GST.
  • For Tax Type, select Central Tax for now.
    • You have to select State Tax for SGST and Integrated Tax for IGST and Cess for Cess.
  • The calculation percentage must be set to 0%. It’s because Tally takes the percentages from her setup or from stock items or sorting.

Now just hit Enter until you save the ledger.

Those ledgers are important for passing GST Accounting Entries in Tally. They are:

  • Sales and Purchases Ledger
  • Stock Items Ledger
  • Sundry Debtor and Sundry Creditors Ledger

Creating GST Sales Entry in Tally

  • From Gateway of Tally, go to Accounting Vouchers.
  • Press F8 to select Sale Voucher.
  • In the Party A / c name, select the Sundry Debtors.
  • In the Sales Ledger, select the GST Sales Ledger.
  • Now, you need to select a stock item that you have created.
  • Enter the quantity and rate for the in-stock item.
  • Press Enter 2 times after entering the amount and you should select the GST tax Ledgers.
  • Select Output CGST as well as Output SGST. You will notice that the GST amount will be calculated automatically.
  • Enter the Narration and press Enter to save the voucher.

Purchases Entry

Purchases can be of two types:

  1. Local purchases in which CGST and SGST apply.
  2. Interstate purchase where IGST applies.
Best GST Training
Best GST Training
Creation of ledger.

You must create the following types of purchase ledgers.

  1. Local Purchase
  2. Interstate purchase
  3. CGST
  4. SGST
  5. IGST
  6. Supplier’s account

In the supplier account, you must also mention whether the supplier is registered or not. If you are registered, enter the provider’s GSTIN number. Creating the GST purchase entry in Tally

  • From Gateway of Tally, go to Accounting Vouchers under Transactions.
  • Press F9 to select Purchases Voucher.
  • Enter the Supplier invoice number, enter the date, and press Enter.
  • Select the Various Creditor with GST Details
  • Select an item in stock from the list of items in stock.
  • Enter the quantity and Rate. The Amount column will be filled in automatically.
  • Press Enter exactly 2 times when in the Amount column.
  • Select Enter CGST and Enter SGST and the GST amount will be automatically calculated in Tally.
  • Enter the Narration and save the voucher.

Record Expenses with GST

    Record an expense with journal voucher

You can also record expenses using a journal voucher. Here, you need to enter the GST amounts as they will not be calculated automatically.

To post an expense using a journal voucher

  1. Go to Gateway of Tally> Accounting Vouchers> F7: Journal.
  2. To add the supplier invoice number, press F12 and enable.

Record an expense on a payment Voucher

  • Booking Expenses with details of the party
  • Booking Expenses by selecting the nature of the transaction

To booking expenses in the payment voucher by selecting the party details

  1. Go to Gateway of Tally> accounting vouchers> F5: Payment.
Best GST Training